A report issued last week by Scorpio Partnership, a wealth management research firm, says that 84% of private banks in Europe offer alternative investments to their clients, and most of them plan to do more of the same.
Scorpio interviewed 60 wealth management professionals and concluded that increasing demand for alternative investments is causing providers to differentiate their offers more and more.
Marketing tactics include enhanced capability across the risk spectrum, improved access to third-party managers on an exclusive basis and playing to regional variations and strengths. External managers are viewed as a fundamental dynamic of alternative investments, especially when they give access to alternative investment funds that may be publicly closed.
Cathrine Tillotson, director, said: "Private banks traditionally steered away from this more risky investment play but are now recognising that there must be this option in order to both retain clients and win new business."
Scorpio says that the main European centres for alternative investments are the UK and Switzerland, with London being the key centre for private equity products and Switzerland the international hedge fund centre.
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